Toyota today announced financial results for the quarter ended June 30, 2011. It was the first full quarter after the March 11 earthquake and tsunami which severely affected production and sales at home and abroad. The results reflect this.
On a consolidated basis, net revenues for the first quarter were 3,441 billion yen ($44.4 billion), down 29.4 percent from the same period last fiscal year. Operating income plummeted from 211.6 billion yen ($ 2.73 billion) to a loss of 108.0 billion yen ($1.4 billion). There is a before tax loss of 80.5 billion yen ($ 1 billion). Net income attributable to Toyota Motor Corporation decreased from 190.4 billion yen ($ 2.5 billion) to just 1.1 billion yen ($ 14 million.)
Consolidated vehicle sales for the first quarter totaled 1.22 million units, a decrease of 599,000 units compared to the same period in the prior year.